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VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 18, 2011) - North American Gem Inc. (NAG) (TSX VENTURE:NAG) would like to announce that it has closed the Non-Brokered Private Placement announced March 29th 2011. NAG raised $1,183,350 at a price of $0.075 per share.


A total of 5,940,000 units were issued as non-flow-through units consisting of one common share and one share purchase warrant. One warrant will entitle the holder to purchase one additional common share of the company at a price of $0.10 per share in the first year, $0.12 per share in the second year, and $0.15 per share in the third year.


A total of 9,838,000 units were issued as flow-through units consisting of one common share and one-half of one share purchase warrant. One warrant will entitle the holder to purchase one additional common share of the company at a price of $0.10 per share in the first year, $0.12 per share in the second year, and $0.15 per share in the third year.


Shares, warrants and any shares issued upon exercise of the warrants are subject to a hold period of four months expiring August 15th 2011. The proceeds of the private placement will be used for exploration of the company's mineral properties and general working capital.


The following insider and pros participated in the private placement;


Insider: Dave Bissoondatt 200,000 non-flow-through shares.


Pro group: Ivano Veschini 300,000 flow-through shares; Kerry Chow 1,200,000 flow-through shares; Roberto Chu 300,000 non-flow-through shares; David Hamilton 100,000 flow-through shares; Shaun Chin 280,000 flow-through shares.


Finders' fees: Canaccord Genuity Corp. receives $5,625 and 75,000 share purchase warrants (same terms as above); Haywood Securities Inc. receives $68,002.50 and 906,700 share purchase warrants (same terms as above); Alex Kuznecov receives $5,257.50 and 70,100 share purchase warrants (same terms as above); Union Securities Ltd. receives $7,500 and 100,000 share purchase warrants (same terms as above).



North American Gem Inc. (TSX VENTURE:NAG) is a Junior Exploration Company based in Western Canada. The Company's primary goal is to explore for Coal in North America, currently the focus is in Kentucky, Saskatchewan, and West Virginia. In addition to Coal exploration, the Company also has interests in Uranium, Copper, Gold, Molybdenum and other base metals in Canada.


On Behalf of the Board of Directors



NORTH AMERICAN GEM INC.



Charles Desjardins, President and Director


Cautionary note:


This report contains forward looking statements. Resource estimates, unless specifically noted, are considered speculative. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. The production rate and mine-life projections have been made without support of a feasibility study, there is no certainty the proposed operations will be economically viable. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.




FOR FURTHER INFORMATION PLEASE CONTACT: Charles Desjardins
North American Gem Inc.
President and Director
604-683-5445
604-687-9631 (FAX)
info@northamericangem.com
http://www.northamericangem.com/">www.northamericangem.com